Combine ground beef and 1/4 cup salsa in large bowl, mixing lightly but thoroughly. Lightly shape into four thin patties. Place one stuffed in center of each patty; wrap beef around pepper to enclose, sealing seams and forming ball. Flatten balls into patties about 4-5 inches across and 1 inch thick.

Place patties on grid over medium, ash-covered coals. Grill, covered, 15-16 minutes to medium (160degrees F) doneness, until beef is not pink in center and juices show no pink color, turning occasionally.

Spread 1 tablespoon salsa con queso evenly over top of each burger. Sprinkle evenly with tomato and olives. Serve with salsa as desired.